This thesis has provided the guidance that civil engineering needs to value infrastructure in a stable, consistent, rational and understandable manner. The main contribution of this research is in an improved understanding of the impact of valuation method and performance / depreciation model on the calculation of present and future network level asset value. Based upon this understanding, a framework was developed that provides guidance to public works asset managers on how to implement asset valuation. T he framework is based upon differentiation of the assets by expected life (defined as useful life), management approach (scheduled or needs based maintenance) and availability of performance data and models.